TOKYO : Japan's factory output fell for a second consecutive month in October, as stalling global demand and lingering supply bottlenecks put a lid on Japanese manufacturers' production plans.
Factory output fell 2.6 per cent in October from a month earlier on a seasonally adjusted basis, government data showed on Wednesday. The dip was larger than economists' median forecast of a 1.5 per cent decline and followed a revised 1.7 per cent decrease in September. Fresh COVID-19 outbreaks in Chinese cities pose another risk to Japan's production outlook, as major Japanese carmakers including Toyota and Honda said they have adjusted production in China due to local lockdowns.
Manufacturers surveyed by the METI expected output to rise 3.3 per cent in November and increase 2.4 per cent in December.
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